09/25/2024
With the recent drop in interest rates by the fed, this comes as no surprise. If your interest rate is above 6%, consider refinancing!
Also, if you're seeing my weekly stories, you'll see that monthly payments for a typical LA home are down by more than $1,000 from about six months ago, and that change is almost entirely due to a drop in interest rates by about 1.25%.
Applications to refinance a home loan surged 20% last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index.
